Earned Value Management System (EVMS) is a very powerful project performance monitoring technique used across the world. It provides the project management practitioner with new insight, methods and approach to objectively monitor and measure the project progress against the scope, cost and schedule baselines enabling project managers to take more informed decisions and control of the project.

This method was first adopted in 1967 by the United States Department of Defense. All the work is represented in monetary terms based on approved budget for performing the work.